#plasma $XPL @Plasma $XPL 1. Financing and Institutional Background: Previously received multiple rounds of financing, completed a $3.5 million seed round led by Bitfinex in October 2024, and secured a $20.5 million Series A round led by Framework Ventures in February 2025, with investors including Founders Fund, Nomura, and others. Its X platform has over 130,000 followers and has garnered significant market attention since its establishment due to its strong background.
2. Core Technology and Performance: Utilizes the PlasmaBFT consensus mechanism based on the Fast HotStuff algorithm, achieving 1000+ TPS, with block times of less than 1 second and transaction confirmations in seconds; implements a protocol-level paymaster mechanism for zero-fee USDT transfers; simultaneously serves as a Bitcoin sidechain and is EVM compatible, benefiting from Bitcoin's security while accommodating Ethereum ecosystem projects.
3. Key Developments and Ecosystem: The mainnet Beta launched on September 25, 2025, absorbing over $4 billion in cryptocurrency within 24 hours, with total DeFi locked value previously surpassing $4.9 billion. Launched the digital bank Plasma One, issued Visa licensed bank cards, supporting 4% cashback on spending, among others; already integrated with over 100 DeFi protocols including Aave, and has established partnerships with Tether, Binance, and others.